For a perfectly competitive firm, the marginal-revenue product curve is the same as the firm's short run demand for labor curve.
Answer the following statement true (T) or false (F)
True
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A consumer maximizes total utility when all available income is spent and the
A) marginal utility from each good is equal for all goods. B) marginal utility per dollar from each good is equal for all goods. C) dollars spent on the last unit of each good are equal for all goods. D) total utility from all goods purchased is equal.
What do economists call movements of labor and capital between nations?
What will be an ideal response?
In the long run, any firm may enter or leave a perfectly competitive market
a. True b. False Indicate whether the statement is true or false
In the Keynesian-cross model, if government purchases increase by 250, then the equilibrium level of income:
What will be an ideal response?